Scottish Government announces £25m of emergency funding for third sector
The Scottish Government has pledged £25m worth of funding to third sector organisations across Scotland through the newly created Third Sector Resilience Fund (TSRF).
The new fund was announced by Aileen Campbell, cabinet secretary for communities and local government, and will be administered by Social Investment Scotland, Firstport and the Corra Foundation, forming part of a £350m support package for the sector as a response to the coronavirus pandemic.
The Third Sector Resilience Fund will support organisations across the third sector who are at risk of closure due to a sharp decrease in income or that are unable to deliver their services during this difficult period. The fund will distribute £25m of emergency funds to help these organisations stabilise and manage cashflows over this difficult period.
The fund will distribute £20m through grants starting at £5,000 and an additional £5m is available in fully flexible, 0% interest loans starting at £50,000.
To be eligible, organisations must be a third sector organisation based in Scotland or primarily delivering services in Scottish communities, have been delivering those products or services prior to March 2020, and require funding to stabilise cashflows directly as a result of COVID-19.
The three delivery organisations are working as fast as possible to get these vital funds distributed to those organisations most in need. More information about the fund, eligibility and application process is available on the Coronavirus Third Sector Information Hub on the SCVO website.
Alastair Davis, Social Investment Scotland’s CEO, said: “This is an extremely challenging time for all communities across Scotland. However as always, our attention is with organisations in the third sector, many of whom supply vital services to vulnerable communities.
“We have worked quickly with our partners to bring this fund to fruition and we hope its announcement will provide reassurance to organisations in this sector and make a tangible difference to the resilience of their operations and impact.
“Together with our partners we are working quickly to mobilise the fund and to assure that these crucial funds are distributed to organisations most in need as soon as possible. The fund, eligibility and application process are now available on the SCVO website.”
Aileen Campbell added: “Scotland’s response to this pandemic will require everyone – councils, the third sector, businesses and communities in their widest sense – to work together and step up to respond to this health emergency.
“We established the £20 million Third Sector Resilience fund to ensure the continued stability and viability of third sector organisations which have been affected by cash flow and other problems as a result of the crisis.
“This means that crucially the fund will ensure that third sector organisations can continue to provide vital services to communities both now and in the future.”
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